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Payment to non-resident 152 (1AA) Every person making a payment of insurance premium or re-insurance premium to a non-resident person shall deduct tax from the gross amount paid.

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Payment to Non-Resident The rate of tax to be deducted from payments referred to in sub-section (1AA) of section 152 shall be 5% of the gross amount paid.

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Payment to Non-Resident 152(1BB) Tax deducted under sub-section (1AA) shall be a final tax on the income of the non-resident person arising out of such payment.

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Certificate of collection or deduction of tax 164 Every person collecting tax shall, at the time of collection or deduction of the tax, furnish to the person from whom the tax has been collected or to whom the payment from which tax has been deducted has been made, a certificate setting out the amount of tax collected or deducted

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Section 107 of Income Tax Ordinance, 2001 The Provisions of Double Taxation treaties override the provisions of Income Tax Ordinance 2001. The Provisions of Double Taxation treaties override the provisions of Income Tax Ordinance 2001.

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Section 152 (IAA) of Income tax Ordinance, 2001 Not applicable to the non-resident companies having residence in the countries with which Pakistan has entered into Double Taxation Treaties. Not applicable to the non-resident companies having residence in the countries with which Pakistan has entered into Double Taxation Treaties.

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13 OBLIGATIONS   Deduct Tax at prescribed rates.   Deposit Tax within 7 days of the end of fortnight   Issue Prescribed Deduction Certificate to payee Salary within 45 days of the end of F.Y. Others within 15 days of the end of F.Y. On request of Payee within 7 days of request.   Submit Monthly Statement by 20th of following month   Submit Annual Statement by 31 st August   Furnish Reconciliation of Statements,if required

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14 SALARIES   Payment through cross cheque or transfer except upto Rs. 15,000 p.m. which may be paid in cash.   Deductions to be made on average basis   Rates of Deductions as per First Schedule   Adjustments may be made for credits and other deductions as per section 149 (1)   Deductions also to be made from payment out of Pension Fund.(Sec 156B)

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16 DIVIDENDS Deduction of Tax at the time of Payment Tax to be deducted at 10 % by Resident companies ( Division III Part I 1 st Schedule ) Dividend to include after tax profit of a branch of a foreign company ( Section 2 (19) (f) )

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18 PAYMENT OF LOCAL COMMISSION Tax to be deducted / collected at 10 % Tax to be deducted / collected at 10 % ( Part IV of First Schedule ) ( Part IV of First Schedule ) Rate in case of Advertising Agents at 5 % Rate in case of Advertising Agents at 5 % (Clause 26 Part II 2 nd Schedule ) (Clause 26 Part II 2 nd Schedule ) Tax is full & Final in case of Recipients Tax is full & Final in case of Recipients ( Section 233 (2) ) ( Section 233 (2) )

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25 BENEFITS OF EFILING   Filing of Income Tax Returns and Statements electronically   Tax Payment by Taxpayers and Withholding Agents   Payment Collection by Banks   Online Payments from bank accounts electronically (ePayments)   In order to facilitate the taxpayers and users of these services; FAQs and help is available online, however in case of any further assistance, please contact at following:   Helpline : (051) 111-772-772... 24 hrs

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FEDERAL EXCISE DUTY (F.E.D) Services provided or rendered in respect of insurance to a policy holder by an insurer, including a re-insurer “[in case where direct insurance service has been provided] RATE OF DUTY i) Goods insurance“[Ten] per cent of the gross premium paid. ii) Fire insurance do iii) Theft insurance do iv) Marine insurance do v) Other insurance do

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FEDERAL EXCISE DUTY (F.E.D) - Exclusion: Life Insurance - Rule 40 : Special procedure for insurance companies - Monthly return in the form STR-7 (Sales Tax Rules 2006) - Return to be filed by 15 th day of the following month. - In case of default Default surcharge @ 1.5% per month - Penalty provision - Non-filing of return: Rs.5000/-. - Non or short payment of duty ; Rs.10,000/- or 5% of the duty involved whichever is greater - If return filed within 15 days of due date; Penalty of Rs.100/- for each day of default.